Friday, December 07, 2007

November 2007 turned out better than expected for the greater Queen Anne, Magnolia, Ballard, and Greenlake areas. The number of homes sold is still down by close to 1/3 as compared to November 2006, but homes are appreciating.

The average home sold for 5% more and the median home sold for 4% more than in November of 2006. Homes that were priced right continued to sell well. The 65 homes that sold within the first 30 days of the listing date were purchased for just under 100% of the listing price (% sp/lp). While the 44 homes that sold between 31 to 60 days were purchased for just over 97% (% sp/lp).

A note to sellers, choose an agent who will price your home right. It will save you time and money.

A side note I've been tracking the last few months is the fact that there is a dramatic increase in listings that have not sold but have been taken off the market (i.e. expired, cancelled, temp. taken off the market) in central and north Seattle. Comparing November of 2007 to 2006 the number of homes that have been taken off the market is up by over 100%. Many sellers who do not need to sell are either renting or staying put. If these sellers were in a different position and had to sell now the market would look much different.

The Seattle Times ran a story today looking at the King County real estate market titled "Home prices slip to '06 level." The title speaks for itself. The current market is one that has not been scene for sometime. It is a buyers market in which sellers are making concessions.

Comparing October to November of this year, October was the slower month. One may wonder if October was the bottom of the current slow down. It is hard to say, but the answer to that questions will come in the months ahead.

With the holidays upon us the market will remain soft for the rest of the year and into next year. Things should pick up in the spring and summer of 2008. This winter is a great time to buy. The real estate market is unlikely to crash in Seattle like other areas of the country. The economy is good, job growth is good, and experts estimate 135,000 more people to move to Seattle in the next 5 years.

Thursday, November 29, 2007

Believe it or not I've decided to “work for food” in 2008. I plan to donate a portion of my personal real estate commissions to support local food banks and soup kitchens in an effort to raise $15,000.

I got the idea after driving to my mother’s home for Thanksgiving. While stopped at a light I saw a woman with a sign that read “Anything Helps.” This is a common sight but it prompt me to act.

My normal reaction to this situation is to act as though the homeless person is not there. If I can, I block my view so I don’t make eye contact. I then sit there feeling uncomfortable waiting for the light to change wishing I knew of a way to help, other than by giving them my spare change.

I’ve been acting out this same scene for years, but I’ve decided to do something about it in 2008.

There are over 8,000 homeless people living in Seattle. I intend to support two non-profits that are close to my office in Ballard, the Ballard Food Bank and the Phinney Neighborhood Association’s (PNA) Soup Kitchen.

The Ballard Food Bank’s mission is to assist individuals and families in maintaining self-sufficiency by providing assistance for basic needs. “We distribute food, clothing and personal hygiene items. In addition, we also have a meal program that provides three hot lunches a week, and we hold mail for those with no permanent address. These services are offered to Ballard, Queen Anne and Magnolia families who are having trouble making ends meet,” says Executive Director Nancy McKinney. “The majority of our income comes from private donations.”

According to Ann Bowden, Development Director of the PNA, “Our soup kitchen serves three meals a week, two lunches and one dinner. We feed 200-250 homeless, low income, elderly and disabled people each week or more than 22,000 each year.” The PNA partners with two churches, St. John United Lutheran on Phinney Ridge and Calvary Lutheran in Ballard. Much of the food comes from Northwest Harvest and Food Lifeline. The soup kitchen requires one staff person and 5 to 6 volunteers to run and is a substantial expense to the PNA’s budget each year.

In a final gesture of goodwill, I will make the donations in the name of my clients. Even though the money will come from my personal proceeds, I’d like my clients to feel part of the giving experience.

Saturday, November 24, 2007

Buyers surfing the internet and visiting open houses occasionally find the home of their dreams on their own. When this happens are they better off to enter a contract with the seller using the Listing Agent or contacting a Buyer’s Agent?

When securing the listing the Listing Agent signs a contract with the seller and agrees to sell their home for the most money with the best terms. A Buyer’s Agent, on the other hand, agrees to represent the buyer and help them buy a home for the least money with the best terms.

Purchasing real estate is a complex and major transaction with many details to be handled. A Buyer’s Agent will help structure an appropriate offer and negotiate the terms that are in the buyer’s best interests, which is a service that is truly a good value.

Monday, November 12, 2007

I read the news article (see link below) and thought I’d pass it on to you. It outlines three experts’ predictions of the future housing market for Seattle WA. To summarize, Fortune Magazine predicts that home prices will fall 19.5% in the next five years, Forbes Magazine says homes prices will rise just over 3% this year, and Moody’s Economy thinks there will be a slight drop from now until next summer when home prices will start to appreciate 14% through 2012.

Who’s right? It’s hard to say. Since we really can’t predict what the market will do, the important thing to keep in mind is that it is best to move when the timing is best for you. If you intend to buy and hold your home you should do fine because historically the value of real estate has always increased.

Thursday, November 08, 2007

Join me for Super Beer XX! This is the Phinney Neighborhood Association’s annual beer taste which will be taking place on November 10th starting at 7:30 PM. I’ll be volunteering for the event, and it would be great to share some excellent brews and a good time with you. For more information go to http://www.andrewlparker.com/bestbeertaste.htm .

By the way I won’t be participating in the Ballard Art Walk in November. See you in December

Sunday, November 04, 2007

October 2007 was a down month as expected for the greater Queen Anne, Magnolia, Ballard, and Greenlake areas. The number of homes sold dropped by close to 1/3 with the average home sold for 2% less and the median home sold for 4% less than in October of 2006.

Homes that were priced right still sold right away. The 145 homes that sold within the first 30 days of the listing date were purchased for just over 100% of the listing price (% sp/lp). While the 41 homes that sold between 31 to 60 days were purchased for just over 97% (% sp/lp). A difference of about 3%. A note to sellers, choose an agent who will price your home right. It will save you time and money.

A side point I noted in my last entry, is the fact that there is a dramatic increase in listings that have not sold but have been taken off the market (i.e. expired, cancelled, temp. taken off the market) in central and north Seattle. Comparing October of 2007 to 2006 the number of homes that have been taken off the market is up by 69%. I believe many sellers who do not need to sell are either renting or staying put. If these sellers were in a different position and had to sell now the market would look much different.

With the holidays right around the corner the market will remain soft for the rest of the year. To conclude I expect the market in 2008 to be similar to 2007. Things should pick up in the spring and summer of 2008. This winter is a great time to buy. The real estate market is unlikely to crash in Seattle like other areas of the country. The economy is good, job growth is good, and experts estimate 135,000 more people to move to Seattle in the next 5 years.

Friday, November 02, 2007

I'm on the Phinney Neighborhood Association (PNA) Beer Committee and it's time for the 20th annual winter beer Super Beer XX. It is on Saturday November 10th from 7:30 to 9:00 PM. Choose 10 samples to taste from over 20 Northwest micro-breweries who bring their new winter ales and other favorite beers to taste. Enjoy pub snacks provided by the PNA Beer Committee, blue grass music and a silent auction of beer paraphernalia.

Tickets are $25 for PNA members and $30 for the general public. Ticket sales are limited, so buy your tickets early.

Monday, October 29, 2007

I'm gathering new and gently used clothes for Treehouse a non-profit that supports foster kids at my office in Ballard. If you’ve been needing to clean out the kids closets, this is a good opportunity to donate to a great cause.

Monday, October 22, 2007

I’ve just experience an amazing weekend! I spent the last four days involved with the PSI Basic seminar, and I feel it has significantly changed my life. I’ve learned many new tools to help me grow both professionally and personally and am already seeing things change in my life for the better. I have met a group of new friends who are committed to helping me grow in positive ways, I have learned to identify and change the thought processes which are counter-productive, and I have learned to take the problem-solving concept of “thinking outside of the box” to a new level.

Wednesday, October 17, 2007

From July through the end of September homes have continued to appreciate in the greater Queen Anne, Magnolia, Ballard, and Greenlake areas. Although, the number of homes sold each month has consistently been much less this year in comparison to last year. For example, September of 2006 verses 2007 was off by 37%, but the average home appreciated 7% and the median home appreciated 8%, which is a respectable number.

In September homes that were priced right were being snatched up. The 95 homes that sold within the first 30 days of the listing date were purchased for 100% of the listing price (% sp/lp). While the 32 homes that sold between 31 to 60 days were purchased for 97.54% (% sp/lp). A difference of about 2.5%.

To date the month of October is chilly. Comparing 2007 to 2006 the number of homes sold is down 50% and the average home has sold for 1% less and the median home sold for 4% less. I expect this trend to continue for the rest of the year.

An interesting side point, in the last 6 months the number of listings that have not sold (i.e. expired, cancelled, temp. taken off the market) has increased by 21% from the same time period last year. I believe many sellers who do not need to sell are either renting or staying put.

To conclude it's a great time to buy! The real estate market in Seattle is unlikely to crash like elsewhere. The economy is good, job growth is good, and experts estimate 135,000 more people to move to Seattle in the next 5 years.

Thursday, October 11, 2007

Seattle, Washington has been getting some good press over the last month. In September Reuters.com did an article titled "No Housing Woes in Booming Washington State" which said, “Seattle...is an especially hot job market boosting confidence of sustained growth.”

Earlier this month, Forbes.com in their article “America’s Most Stable Housing Markets” lists Seattle at the top of the list. Saying, “The Emerald City has experienced strong price appreciation over the last six quarters, and that's expected to continue in the new year, though at a slower pace.”

The real estate market has slowed and with the holiday season around the corner it is expected to continue the trend. If you are a buyer it is a good time to get into the market before things pick up next year.

Thursday, September 27, 2007

I’ve been doing research on homebuyer assistance programs. I’ve found a few programs for first time homebuyer to consider.

One is sponsored by the Washington State Housing Finance Commission. The loans have fixed interest rates that are typically below market, with 100% financing, and down payment assistance as well. To qualify you must first attend a free (5hr) Homebuyer Education seminar and use a Commission-trained loan officer. For more information go to http://www.wshfc.org/ .

The downside…the 5 hour seminar is a large time commitment. Also, the program’s money is pooled, which occasionally runs out. When it runs out, the homebuyer is placed on a waiting list.

A couple others are AmeriDream and HART (House Action Resource Trust), both non-profit organizations. With these the homebuyer receives gift money for their down payment, which they don’t have to pay back. AmeriDream offers a gift of up to 10% of the homes value and HART's gift is up to $15,000. Where does the “gift” money come from?...the home-seller. For more information go to http://www.ameridream.org/Homebuyers/ or http://www.hartprogram.com/staging/nuke/index.php .

The downside…the seller must cooperate. Also, some sellers may look at this proposal as a scam and it will take an extra effort to convince them otherwise. Although, with the seasonal slow down coming up fast it may be an option more sellers will consider.

Wednesday, September 19, 2007

The real estate market has softened in Seattle and mortgage interest rates are low…sounds like a good time to buy!

It has been a long time since Seattle’s market has seen these conditions. With home prices cooling a bit, buyers are in a stronger position to negotiate the terms of a deal to their advantage. In addition, the cost of buying is still historically low with interest rates just above 6%. Also, the fundamentals of Washington State's economy remain strong which points to continued growth.

If you are currently renting or if you are an investor who is looking for rental property now is a good time to buy.

Thursday, August 02, 2007

If you are contemplating taking the steps towards buying or selling a home, whether you are a first time buyer or a veteran homeowner, I strongly recommend you give Andrew Parker a call.

Recently, I experienced the pleasure of buying my first home. When I first started looking the whole process seemed rather daunting, and for good reason. Buying a home is not to be taken lightly; there are a lot of moving parts and it will most likely be the biggest investment you ever make. As such, I wanted everything to go as smoothly as possible. After looking online and scouring the papers I decided to get serious and called Andrew. I had met Andrew through volunteering and knew he was a trustworthy, friendly, experienced and intelligent realtor that would really work for me. I also specifically sought out Andrew because I knew he was not someone that would rush me to a decision.

Let’s just say I was thoroughly pleased with my choice. Andrew always provided me with up-to-date information on relevant houses in my price range and in the areas I was looking. In the houses we toured, he pointed out the good and the bad of each, making sure I had all the information I needed to make my decision. This was extremely helpful, as there were many things that can only be known with experience and I would have missed. When it finally came time to start signing papers, he talked me through each page and made sure I understood what I was signing before we moved on. He answered all my questions in a timely manner, returned all my calls and emails promptly and acted as a great liaison between the others we interacted with during the process.

When the dust settled, I was the owner of a great house and couldn’t be happier. Andrew definitely surpassed my expectations and can expect a call from me if I ever need his expert services again! I hope you give him a call, too.

Sunday, July 15, 2007

For the greater Queen Anne, Magnolia, Ballard, and Greenlake areas home appreciation slowed for the month of June 2007, and when comparing June of 2007 to 2006 there where also fewer sales. A total of 274 in comparison to 316, a drop of 13%.

The average home appreciated 3.7% and the median home appreciated 3.1%, which is much less than what has been seen for some time. Buyers are still snatching up well priced homes though. Homes that sold within the first 30 days, were purchased for 101% of the listing price (% sp/lp), but homes that sold between 31 to 60 days were purchased for 97.89% (% sp/lp). A difference of just over 3%.

April was a hot month with the average home selling for 16% and the median selling for 11%more than in 2006. May was also a good month with an average of 10% and a median of 7%.

Typically the first 6 months of the year are the strongest and the market maybe beginning to slow for the year because the first 15 days of July look to be continuing June's trend.

Sunday, July 08, 2007

In addition to my work as a Realtor, I play the saxophone and graduated from Cornish College of the Arts with a degree in jazz performance. I'm excited to share with you the news of my upcoming performances with my jazz quintet this summer.

On July 12th from 6-8 PM I’ll be performing at the park by the Magnolia Community Center, and on August 3rd from 3:00-3:45 PM I’ll be on the Main Stage of the Magnolia Summer Festival.

My quintet features Thomas Marriott on trumpet, Geoff Harper on bass, Joshua Rawlings on piano, and Matt Page on drums.

Thursday, April 12, 2007

For the greater Queen Anne, Magnolia, Ballard, and Greenlake areas March of 2007 beat 2006! More homes sold plus the average sales price divided by listing price (avg % sp/lp) is up about 1% from 101% in February to 102.5%. The market has heated up!

Sellers as I've mentioned before, homes that are not priced right take longer to sell and typically sell for less. Choose your asking price wisly. In March homes that sold within the first 30 days sold for 102.5% (avg % sp/lp) compared to homes that sold from 31 to 60 days sold for 98.66% (avg % sp/lp). A differance of almost 4% is nothing to sneeze at.

Appreciation continues to look good. When comparing the month of March in 2007 to 2006, the average home appreciated 8.4% and the median home appreciated 9.5%.

Buyers, be ready to move when you find the home that fits your criteria. The market is hot so expect multiple offers and escilation clauses for the gem properties.

Coming soon, the list of homes sold in zip codes 98119, 98199, 98107, 98117, and 98103 for March 2007.

Tuesday, April 03, 2007

This month I'll be hosting photographer Zachary Folk at the Ballard Art Walk. Zac's photos span about three years begining in Bangkok and ending here in Seattle. Most of the images were taken with a Holga camera, which is a small toy from Russia with a plastic lens. It is sure to be another great show so please stop by. To preview Zac's work go to www.andrewlparker.com/artwalk-Folk.htm.

April's art walk is on Saturday the 14th and runs from 6 to 9 PM. The address of my office is 1718 NW 56th Street, Seattle, WA 98107, and as always wine and hors d’oeuvre will be served.

Monday, March 19, 2007

The Big Climb for Leukemia took place on Sunday. Team RE/MAX made it to the top of the Bank of America Center, all 69 stories, successfully. In addition, we raised $950.00 for the cause. A BIG THANK YOU goes to all of our supporters, and if you’d still like to make a donation it not too late. Go to http://www.active.com/donate/2007bigclimb/bc07AParker and support this worthy cause.

Sunday, March 11, 2007

Compared to January, home sales in February picked up nicely. In February, 203 homes sold in Seattle zip codes 98119, 98199, 98107, 98117, and 98103. Of those, 121 sold within the first 30 days and received 100.25% of the listing price, 29 sold between 31 and 60 days and received 99.14% of the listing price, 22 sold between 61 and 90 days and received 98.41% of the listing price, 12 sold between 91 and 120 days and received 99% of listing price, and 9 sold 120+ and received 98.85% of listing price. In February of 2006 fewer homes sold but the price-sold compared to the price-listed has slipped by about 1%.

I advise Sellers to be careful when choosing a listing price. As it clearly shows above, homes that are not priced right take longer to sell and typically sell for less. Appreciation is looking good for the greater Queen Anne, Magnolia, Ballard, Greenlake area. The average home appreciated 8% and the median home appreciated 9% for the month of February 2006 compared to 2007. See below for more specific information for each zip code.

I advise Buyers to be ready to move when they find a home that fits their criteria. As it show above there is competition for homes that are priced right.

Zip Code 98119 Residential and CondoA total of 25 homes sold in 98119. Of those 15 sold within the first 30 days and received 98.98% of the listing price, 4 sold between 31 and 60 days and received 97.45% of the listing price, 3 sold between 61 and 90 days and received 97.29% of the listing price, 1 sold between 91 and 120 days and received 98.27%, and 2 sold 120+ days and received 97.34% of the listing price.

Zip Code 98199 Residentual and CondoA total of 23 homes sold in 98199. Of those 13 sold within the first 30 days and received 100.84% of the listing price, 0 sold between 31 and 60 days, 5 sold between 61 and 90 days and received 97.19% of the listing price, 5 sold between 91 and 120 days and received 99%, and 0 sold 120+ days.

A total of 39 homes sold in 98107. Of those 18 sold within the first 30 days and received 99.56% of the listing price, 7 sold between 31 and 60 days and received 100.11% of the listing price, 7 sold between 61 and 90 days and received 100.51% of the listing price, 4 sold between 91 and 120 days and received 98.89% of listing price, and 3 sold 120+ and received 99.8% of listing price.

A total of 34 homes sold in 98117. Of those 26 sold within the first 30 days and received 100.58% of the listing price, 5 sold between 31 and 60 days and received 99.62% of the listing price, 0 sold between 61 and 90 days, 3 sold between 91 and 120 days and received 99.27% of listing price, and 0 sold 120+ days.

Zip Code 98103 ResidentialA total of 82 homes sold in 98103. Of those 49 sold within the first 30 days and received 100.5% of the listing price, 13 sold between 31 and 60 days and received 99.23% of the listing price, 7 sold between 61 and 90 days and received 98.04% of the listing price, 9 sold between 91 and 120 days and received 99.11% of listing price, and 4 sold 120+ days and received 99.23% of listing price.

Tuesday, February 27, 2007

As part of the Ballard Art Walk, I’ll be hosting artist Akiko Kino in March. Akiko is a long-time resident of Tokyo, who has lived in the States for nearly three years. Her use of a knife instead of a brush to apply paint gives her paintings texture and dimension that you’ll want to see in person to truly appreciate. I expect this to be a great show so please stop by. To preview Akiko’s work go to http://www.andrewlparker.com/artwalk-Kino.htm.

March's art walk is on Saturday the 10th and runs from 6 to 9 PM. The address of my office is 1718 NW 56th Street, Seattle, WA 98107, and as always wine and hors d’oeuvre will be served.

Friday, February 09, 2007

In January 134 homes sold in Seattle zip codes 98119, 98199, 98107, 98117, and 98103. Of those 53 sold within the first 30 days and received 99.46% of the listing price, 34 sold between 31 and 60 days and received 98.36% of the listing price, 28 sold between 61 and 90 days and received 98.15% of the listing price, 10 sold between 91 and 120 days and received 97.65% of listing price, and 9 sold 120+ and received 93.74% of listing price.

January of 2006 had a similar number of homes sold but the price sold to price listed has slipped slightly. I advise Sellers to be careful when deciding a listing price. As it clearly shows above homes that are not priced right take longer to sell and may sell for less.

Appreciation is looking good for the greater Queen Anne, Magnolia, Ballard, Greenlake area. The average home appreciated 12% and the median home appreciated 7% for the month of January year-to-date.

See below for more specific information for each zip code.

Zip Code 98199 Residential and Condo

A total of 15 homes sold in 98199 during the month of January. Of those 6 sold within the first 30 days and received 99% of the listing price, 4 sold between 31 and 60 days and received 98% of the listing price, 1 sold between 61 and 90 days and received 93% of the listing price, 1 sold between 91 and 120 days and received 98% of listing price, and 3 sold 120+ and received 98% of listing price.

Zip Code 98119 Residential and Condo

A total of 17 homes sold in 98119 during the month of January. Of those 8 sold within the first 30 days and received 98% of the listing price, 3 sold between 31 and 60 days and received 98% of the listing price, 5 sold between 61 and 90 days and received 99% of the listing price, 0 sold between 91 and 120 days, and 1 sold 120+ and received 98% of listing price.

Zip Code 98107 Residential

A total of 17 homes sold in 98107 during the month of January. Of those 8 sold within the first 30 days and received 99.8% of the listing price, 1 sold between 31 and 60 days and received 100% of the listing price, 5 sold between 61 and 90 days and received 100.5% of the listing price, 2 sold between 91 and 120 days and received 100% of listing price, and 1 sold 120+ and received 93% of listing price.

Zip Code 98107 Condo

A total of 15 homes sold in 98107 during the month of January. Of those 6 sold within the first 30 days and received 100.65% of the listing price, 4 sold between 31 and 60 days and received 98% of the listing price, 2 sold between 61 and 90 days and received 97% of the listing price, 1 sold between 91 and 120 days and received 97% of listing price, and 0 sold 120+ days.

Zip Code 98117 Residential and Condo

A total of 25 homes sold in 98117 during the month of January. Of those 10 sold within the first 30 days and received 99.8% of the listing price, 6 sold between 31 and 60 days and received 98% of the listing price, 7 sold between 61 and 90 days and received 99.5% of the listing price, 2 sold between 91 and 120 days and received 96% of listing price, and 0 sold 120+ days.

Zip Code 98103 Residential

A total of 33 homes sold in 98103 during the month of January. Of those 8 sold within the first 30 days and received 99.3% of the listing price, 12 sold between 31 and 60 days and received 98.4% of the listing price, 8 sold between 61 and 90 days and received 94% of the listing price, 3 sold between 91 and 120 days and received 97% of listing price, and 2 sold 120+ days and received 88% of listing price.

Zip Code 98103 Condo

A total of 12 homes sold in 98103 during the month of January. Of those 5 sold within the first 30 days and received 99.5% of the listing price, 4 sold between 31 and 60 days and received 100% of the listing price, 0 sold between 61 and 90 days, 1 sold between 91 and 120 days and received 100% of listing price, and 2 sold 120+ days and received 96% of listing price.

Wednesday, January 31, 2007

My artist for February's Ballard Art Walk is Colleen Lambert. She has a deep appreciation for the fine realist art of the past. With over twenty-five years experience as a fine artist, muralist and art instructor, I'm excited to have Colleen display her work at my space. To preview the show go to http://www.andrewlparker.com/artwalk-lambert.htm.

Thursday, January 25, 2007

Once again I’m proud to announce that I have created a team to take part in the Big Climb for Leukemia on March 18th. I will be taking the stairs to the top of the Columbia Center in downtown Seattle, which will be a climb of 69 flights of stairs or 1,311 steps in an effort to raise money for the fight against Leukemia & Lymphoma.

As you are able, please help me reach my goal. I hope to personally raise $1,000.00 for this event, and your pledge of $35.00 or more will be greatly appreciated. Make your check out to the Leukemia and Lymphoma Society and mail it to me Andrew L. Parker at RE/MAX Mutual Realty, 1718 NW 56th Street, Suite 210, Seattle, WA 98107.

If you'd like to join my team please let me know. We will be meeting once a week to train. It's a great opportunity to get in shape and have some fun.